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Russian Oil Exports

All articles tagged with #russian oil exports

energy2 years ago•1 min saved

China's GDP Disappoints, Oil Prices Slide

Oil prices dropped over 1% as weaker than expected Chinese economic growth raised concerns about demand in the world's second-largest oil consumer. China's GDP grew 6.3% in Q2, falling short of analyst forecasts of 7.3%, due to weakening demand at home and abroad. The partial restart of halted Libyan output also added pressure to oil prices. Additionally, Russian oil exports from western ports are expected to decrease next month, signaling tighter supplies.

via Reuters|

#chinese-gdp #demand #energy

energy2 years ago•2 min saved

Oil's Volatility Continues Amidst Debt and Supply Concerns

Oil prices fell due to concerns around the US debt ceiling talks and China's faltering economic recovery, offsetting support from lower supplies from Canada and OPEC+ producers. The resumption of US debt ceiling negotiations will remain a key driver for crude and risk sentiment this week. Total exports of crude and oil products from OPEC+ plunged by 1.7 million bpd by May 16, and Russian oil exports will likely fall by late May. The US oil rig count fell by 11 to 575 in the week to May 19, the biggest weekly drop since September 2021.

via Reuters|

#chinas-economic-recovery #energy #oil-prices